Tax Life as an Internet Retailer
Internet retailing has transformed the brick-n-mortar business world. Traditional (non internet) stores are required to pay sales tax based on their county of presence. Should these pet retailers be punished because they don’t exclusively retail on the web?
Right now the future of sales tax advantaged web retailers lies in the hands of legislators. Under current US tax law, online retailers are not required to adhere to state sales tax laws. Recently this tax preference has come under scrunity and will be reviewed in upcoming months.
The bonus for web retailers who sell less that $5 million is that they will be exempt. In all fairness, the online little guy should get a break from tax laws. The same rational that applies to the rich paying higher taxes should apply to the internet community too.
Yaba daba doo for the small business building a customer base not impacted by sales tax laws which ultimately help their revenue stream.
